Restrac expands employment services 11-19-98

CBS.MarketWatch.com

LEXINGTON, Mass. (CBS.MW) -- Shares of Restrac Inc. advanced 40 percent Thursday after the company said it has acquired the Junglee Employment Services business from online retailer Amazon.com. for about 1.7 million shares of Restrac stock.

Under terms of the business deal, Restrac (RTRK)
RTRK, +0.00%
, which provides networked recruiting solutions, will also get exclusive rights to Junglee's online recruitment technologies and its Internet production sites.

Amazon.com (AMZN)
AMZN, +0.17%
acquired the Employment Services Business when it purchased Junglee Corp. in August 1998.

Restrac said the Junglee technology, which currently contributes to other Internet career sites, including The Washington Post's CareerPost and the Wall Street Journal Interactive Edition's employment site, "significantly" expands the company's reach.

"The WebHire Network has made Restrac the clear leader in Internet recruiting," said CEO Lars Perkins in a statement. "The addition of Junglee's 15 job sites, 115,000 job postings and more than 500 employers advances the WebHire Network's position as the largest Internet recruiting network."

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